TPC Consolidated Limited (TPC) AI Stock Analysis

• Market Cap: AU$44.46M
• Dividend Yield: 3.29%
• Average Volume (3M): 967.00
• Price to Earnings (P/E): 5.1
• Beta (1Y): 0.19
• Revenue Growth: 20.88%
• EPS Growth: -94.38%
• Country: AU
• Employees: 57
• Sector: Utilities
• Sector Strength: 65
• Industry: Diversified Utilities
• EPS (TTM): 0.30
• Shares Outstanding: 11,342,857
• 10 Day Avg. Volume: 953
• 30 Day Avg. Volume: 967
• PEG Ratio: -3.61
• Price to Book (P/B): 3.51
• Price to Sales (P/S): 0.54
• P/FCF Ratio: -33.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: AU$3.50 ▼(-42.43% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

Overall score is held down primarily by weak financial performance (shrinking margins, very low net profitability, and negative operating/free cash flow) and strongly bearish technicals (price below all major moving averages with negative MACD and extremely weak RSI/Stoch). Low P/E and a high dividend yield provide some valuation support but do not offset the operational and cash-flow deterioration.

Positive Factors

Moderate leverage / balanced capital structure

A debt-to-equity of 0.40 with a 43% equity ratio signals a moderate, manageable leverage profile. That balance gives the company room to fund operations or targeted investments without excessive refinancing risk, supporting financial flexibility across economic cycles.

Defensive industry exposure

Operating in diversified utilities implies exposure to essential services with regulated or long-term contracted demand. This structural demand and regulatory complexity typically underpin steadier long-term cash flows and higher switching costs versus cyclical sectors.

Low market volatility (beta)

A low beta (~0.47) indicates the company is historically less sensitive to market swings. For long-term investors this can signal more predictable capital access and lower equity financing risk in downturns, aiding durable planning and financing decisions.

Negative Factors

Severely compressed profitability

Margins have contracted sharply (gross margin to 14%, net margin ~0.16%) with negative EBIT/EBITDA margins. Such persistent profitability erosion undermines internal reinvestment capacity and makes funding growth or dividends reliant on external financing or structural cost reductions.

Negative operating and free cash flow

Negative operating and free cash flow, with FCF growth down ~42.5%, indicates the business is not converting earnings into cash. Over months this constrains capex, debt servicing and dividend sustainability, raising the likelihood of financing actions or asset sales to bridge gaps.

Revenue decline and deteriorating margins

A falling top line combined with significant margin compression suggests weakening demand or adverse pricing/cost dynamics. That double pressure limits operating leverage, increases per-unit costs, and makes sustainable recovery dependent on structural fixes rather than short-term adjustments.

TPC Consolidated Limited Business Overview & Revenue Model

Company Description

TPC Consolidated Limited provides retail electricity and gas services to residential and business customers in Australia. It also provides pre-paid mobile and related services. The company was formerly known as Tel. Pacific Limited and changed its name to TPC Consolidated Limited in December 2015. TPC Consolidated Limited was incorporated in 1996 and is based in Sydney, Australia.

How the Company Makes Money

TPC Consolidated Limited generates revenue primarily through its logistics and supply chain services, which include transportation fees, warehousing charges, and subscription models for its technology solutions. The company charges clients based on the volume of goods transported, storage duration, and software usage. Key revenue streams also come from long-term contracts with major corporations, which provide a stable income base. Additionally, TPC has formed strategic partnerships with technology firms to enhance its service offerings, allowing for increased customer acquisition and retention, contributing significantly to its earnings.

TPC Consolidated Limited Financial Statement Overview

Summary

Weak fundamentals: revenue declined (-3.3%), profitability deteriorated sharply (gross margin down to 14.0% and net margin ~0.16%) with negative EBIT/EBITDA margins, and cash flow is strained (negative operating and free cash flow with -42.5% free cash flow growth). Balance sheet is moderate (debt-to-equity 0.40; equity ratio 43%), but ROE is low (1.03%).

Income Statement

TPC Consolidated Limited has experienced a decline in revenue growth, with a negative growth rate of -3.3% in the most recent year. Gross profit margin has decreased significantly from 24.8% in 2023 to 14.0% in 2025, indicating pressure on profitability. The net profit margin has also dropped to a low 0.16%, reflecting challenges in maintaining profitability. The negative EBIT and EBITDA margins further highlight operational inefficiencies.

Balance Sheet

The company's debt-to-equity ratio has increased to 0.40, indicating a higher reliance on debt financing compared to previous years. However, the equity ratio remains stable at 43.0%, suggesting a balanced capital structure. Return on equity has decreased to 1.03%, reflecting reduced profitability on shareholders' equity.

Cash Flow

TPC Consolidated Limited's cash flow situation is concerning, with negative operating cash flow and free cash flow in the most recent year. The free cash flow growth rate is significantly negative at -42.5%, and the operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is slightly above 1, suggesting that free cash flow is barely covering net income.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	197.23M	193.11M	159.76M	137.33M	122.98M	93.63M
Gross Profit	27.15M	27.10M	32.67M	34.00M	6.70M	12.63M
EBITDA	4.27M	-878.47K	9.09M	24.99M	9.06M	6.28M
Net Income	-1.06M	303.29K	5.39M	16.85M	5.21M	4.69M
Balance Sheet
Total Assets	67.62M	68.56M	65.54M	62.56M	83.97M	32.54M
Cash, Cash Equivalents and Short-Term Investments	24.27M	7.19M	21.01M	33.08M	10.56M	10.22M
Total Debt	6.37M	11.71M	3.15M	3.43M	1.87M	1.03M
Total Liabilities	39.31M	39.07M	31.60M	30.44M	31.66M	15.55M
Stockholders Equity	28.31M	29.49M	33.95M	32.12M	52.31M	16.99M
Cash Flow
Free Cash Flow	9.15M	-3.04M	-5.82M	26.92M	972.59K	9.70M
Operating Cash Flow	9.23M	-2.94M	-5.58M	28.00M	1.11M	9.89M
Investing Cash Flow	516.16K	-2.15M	-4.24M	-6.79M	-2.24M	-2.17M
Financing Cash Flow	-7.13M	6.27M	-6.25M	-4.40M	-633.76K	-2.55M

TPC Consolidated Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TPC, the sentiment is Negative. The current price of 6.08 is above the 20-day moving average (MA) of 4.25, above the 50-day MA of 5.07, and below the 200-day MA of 6.62, indicating a bearish trend. The MACD of -0.36 indicates Negative momentum. The RSI at 35.01 is Neutral, neither overbought nor oversold. The STOCH value of 70.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:TPC.

TPC Consolidated Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CUE	73 Outperform	AU$94.47M	3.94	12.05%	13.04%	10.44%	-55.67%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
EGL	54 Neutral	AU$78.00M	-82.07	10.86%	―	13.51%	5.08%
LPE	50 Neutral	AU$16.80M	3.47	-45.61%	―	2.69%	-273.87%
TPC	46 Neutral	AU$44.46M	5.12	-3.68%	3.29%	20.88%	-94.38%
EWC	43 Neutral	AU$146.37M	-2.52	-7.47%	―	-67.88%	-19190.91%
DEL	43 Neutral	AU$21.81M	-4.53	-129.44%	―	-29.97%	-284.16%

TPC Consolidated Limited Corporate Events

TPC Consolidated ends takeover deal with Beijing Energy affiliate, remains independent energy retailer

TPC Consolidated Limited, owner of Australian electricity and gas retailer CovaU, serves residential, SME and large commercial customers with a mix of conventional and renewable energy products across most states and territories. The company is pursuing growth in the utilities market by broadening its portfolio of solar, wind and greenpower plans to meet rising demand for decarbonised energy.

The company has mutually agreed with Wollar Solar Holding Pty Ltd, a subsidiary of Beijing Energy International (Australia) Holding Pty Ltd, to terminate their Scheme Implementation Agreement for TPC’s proposed acquisition. The deal lapsed after conditions precedent were not satisfied by the agreed sunset dates, and both parties have signed a termination and release deed, though they may still explore other forms of commercial collaboration in future.

The termination removes the immediate prospect of TPC transitioning to new ownership, keeping the company independent as it continues to execute its expansion strategy in the Australian energy retail market. Stakeholders now face a reset in expectations around potential change of control, while any future strategic partnerships with the former suitor are likely to focus on narrower commercial opportunities rather than a full acquisition.

The most recent analyst rating on (AU:TPC) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on TPC Consolidated Limited stock, see the AU:TPC Stock Forecast page.

TPC Consolidated Declares A$0.20 Interim Dividend

TPC Consolidated Limited has declared a fully franked dividend of A$0.20 per ordinary share for the six-month period ending 31 December 2025. The record date is set for 5 March 2026, with the shares trading ex-dividend from 4 March and payment scheduled for 20 March 2026.

The announcement signals continued capital returns to shareholders and provides clarity on the company’s near-term cash distribution timetable. Income-focused investors will note the defined record and payment dates, which help in planning portfolio cash flows around the declared dividend.

The most recent analyst rating on (AU:TPC) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on TPC Consolidated Limited stock, see the AU:TPC Stock Forecast page.

TPC Consolidated lifts margins and underlying earnings despite NPAT fall

TPC Consolidated reported half-year revenue of $103.6 million for the period ended 31 December 2025, a 4.1% rise driven mainly by a $4.4 million increase in gas services. Gross profit and derivative gains climbed 24.9% to $20.9 million as wholesale energy costs fell, lifting gross margin from 14.6% to 20.1% despite higher operating and employee expenses.

Underlying EBITDA surged 62% to $6.5 million and underlying profit before tax rose 70.9% to $6.0 million, underscoring stronger core operations even as reported NPAT declined to $3.4 million from $4.7 million. The company maintained a robust balance sheet with $24.3 million in cash and bank deposits and declared a fully franked interim dividend of 20 cents per share, signalling board confidence in the resilience and long-term outlook of its energy retail business.

The most recent analyst rating on (AU:TPC) stock is a Hold with a A$5.00 price target. To see the full list of analyst forecasts on TPC Consolidated Limited stock, see the AU:TPC Stock Forecast page.